Post
Topic
Board Economics
Re: Bitcoin is useless
by
Sam76512
on 13/02/2018, 22:31:26 UTC
People still speak about "profit", still smells ponzi, no constructive comment.

I agree with you there. Sure wish people would try and articulate their meanings and come with more valuable responses other than broken english get rich quick responses. I know everyone's native language isn't english but come on. "I made income, it provide will wealth, i dont not work anymore because I'm millionaire, it helps me buy my groceries and pay bills, blah blah blah.

Don't get me wrong I am very bullish on blockchain and crypto-currency goes hand in hand with that. Sorry they are here to say. As for Bitcoin. It was the first and is still a very valuable asset to have and will rise again. It will not always remain on top. Ethereum will overtake it by market cap this year. Nothing against Bitcoin as it has paved the way and opened the doors to the masses. But as for a use value for transactions sorry but that is not currently the case. Maybe future updates will fix that. But it is too volatile and tx fees are still to high to use it in our daily lives. But still a great store of value. Still a sound investment if you don't mind the RvR. (Risk vs. Reward)

No ponzi scheme as they are backed by a certain group of people looking to prey on others. Any currency only has value by who is willing to trust it and use it. I trust crypto more than my own government currency that is backed by "trust". It will collapse. It was great when it was backed by gold but not anymore. Hyper-Inflation will drive it to collapse. Value comes from if people are willing to use it and accept it. Crypto is beginning to do that. So while there will always be millions of people willing to accept Bitcoin it will never be useless. OP just has to learn to accept that.